credit card

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.
A credit card is different from a charge card, which requires the balance to be repaid in full each month. In contrast, credit cards allow the consumers to build a continuing balance of debt, subject to interest being charged. A credit card also differs from a cash card, which can be used like currency by the owner of the card. A credit card differs from a charge card also in that a credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer, whereas a charge card simply defers payment by the buyer until a later date.

View More On Wikipedia.org
  1. J

    NSW Low credit rating credit card

    Hi, I am in a bit a situation where I have a good job, no debt, no mortgage and very low outgoings and an 85% repayment rate according to Equifax. several years ago I did have a mortgage but that was paid out. For the past couple of years I have not had a bank account as everything was in my...
  2. W

    NSW Credit card addback on balance sheet

    Hi, My ex wife through her solicitor is claiming addback's of $60000+ for credit card payments made during the relationship dating back to 2017. We separated in Dec 2019. Both of us had a credit card each for same account and the payments were made from our joint account. Is this going to hold...
  3. J

    Overseas credit card debt

    Hi, I need advise regarding my credit card debt concern. I am a Vietnamese and I worked in Indonesia for 3.5 years. While based in Jakarta, I had a bank account and a credit card. I paid it on time always. However, due to personal reasons, I left the country and missed out on paying my...
  4. N

    QLD please help with lost lotto

    lost lotto ticket but have credit card transation of day that no one has looked at, need to ascertain time-is there anyone that can help my no 0416439981 k
  5. T

    Credit card increase by secondary card holder

    Hi can a bank allow a secondary card holder to increase credit limit? The secondary card holder did this via there internet banking and the bank allowed them to do it
  6. D

    WA Caught at Self-Checkout for Theft at Coles - Help?

    Hi, Recently, I did something very stupid, which I am ashamed of. I was using the self-check out at Coles and I put a few items through as cheap vegetables about 25$ amount. The rest of items I paid for my total came to about $30. As I was leaving, one of the workers asked to see my receipt. I...
  7. J

    WA Outstanding Credit Card Debt from 2014 - What to Do?

    I became aware of an outstanding credit card debt from 2014 that I truly thought had been paid off. I had found myself in a difficult financial situation towards the end of 2014 with a few outstanding debts. I had a very good friend come to my rescue at the time and generously agreed to pay...
  8. B

    NSW Ex Driving Car That is Under My Name?

    Hi, I split with my ex-partner and she is driving a car I brought, which I allowed her to drive while we were together. She was making repayments on the car while together but once we broke up, she stopped so I had to keep paying it. The car is registered in my name and the car finance is in...
  9. M

    VIC Go to VCAT to Get Payments from Online Vendor Refunded?

    I used my Bankwest credit card on an online gaming website. After a disagreement with the website, I find out that the website isn't licenced or authorised to operate in the Australian jurisdiction. If I take Bankwest to VCAT to get the payments reversed or refunded, will I have a chance?
  10. B

    WA Settlement of Credit card debt

    My husband and I have 5 credit cards between us, with of a total debt of $65k. We have defaulted on all credit cards. I may have access to a lump sum of money so I was wondering if I could offer a one off lump sum payment to finalise and clear the debt with each bank. If so, what is a fair and...